Pros
- No membership fees
- 0% intro APR on balance transfers
- High rewards rate
- $150 initial rewards bonus
Cons
- Spending caps on rewards
- No intro APR on purchases
- Balance transfer fee
- Foreign fee
TD Bank Cash Credit Card
Transfer Fee: 3% (min $5)
Rewards Details
- Earn 15,000 points (equivalent to $150 Cash Back) when you spend $500 within the first 90 days after account opening.
- When you open your card, you'll start with 3 points per $1 spent on dining, 2 points per $1 spent at grocery stores. And then every quarter, you can to choose from these spend categories: dining, entertainment, gas, groceries and travel to earn 3 points and 2 points, respectively.
- Earn 1 point for every $1 spent – everywhere, every time on eligible purchases.
- Limited Time Offer: Earn 5 points on Gas purchases for 6 months or up to a $6,000 spend.
- Redeem your cash rewards for Cash Back, merchandise, gift cards or travel rewards once you've earned at least $25.
- There are no limits to the rewards you can earn and your cash rewards do not expire as long as your account is in good standing.
Additional Info
- The minimum credit limit is $500.
- For TD Visa Signature benefits, the credit limit must be $5,000 or greater.
- Add your TD cards to your mobile device to simplify your online, in-store and in-app purchases.
- Enjoy Visa security on purchases, plus protection against unauthorized charges .
- More Details & Reviews About TD Bank Cash Credit Card
TD Cash Credit Card Review Summary
The TD Bank Cash Credit Card is a good credit card that’s worthwhile for people with good credit scores because it has a $0 annual fee and solid ongoing rewards. The card is especially good if dining and grocery stores are among your biggest spending categories. You will earn 3 points / $1 on such expenses (1 point / $1 on all other purchases).
One of the notable downsides to the deal is its lack of financing appeal. The card’s regular rate can be as high as 22.99% (V), and its offer of 0% for 12 months on balance transfers is marred by a 3% (min $5) transfer fee. As a result, the TD Bank Cash Visa is best for people who always pay their credit card bills in full.
TD Bank Cash Credit Card Highlights
3% Back On Dining
You’ll get 1% cash back (1 point per $1) for most purchases you make with this card, which isn’t all that exciting considering that the average cash back credit card offers 1.14%, according to our latest Credit Card Landscape Report. Fortunately, that base earning rate is supplemented by 2% cash back on dining, which includes everything from fast food and coffee shops to five-star restaurants. That means the TD Bank Cash Card is particularly well suited to people who eat out often. You will also get an extra 1% back at groceries stores, for a total of 2% (2 points per $1). And for a limited time only, you get 5% cash back (5 points per $1) on gas purchases for 6 months or up to $6,000 in purchases.
No Annual Fee
The lack of an annual fee makes the TD Bank Cash Visa $21.65 cheaper per year to maintain than the average credit card. That means you can keep your account open without feeling pressured to make purchases on a regular basis in order to earn enough just to break even.
TD Bank Cash Credit Card Lowlights
3% (min $5) Balance-Transfer Fee
The average household with credit card debt owes just a bit less than $7,519. Three percent of that is $226. That’s a lot of money to spend, considering you don’t have to. Literally hundreds of credit cards offer 0% introductory financing on balance transfers for at least as long as the TD Bank Cash Card (12 months) and have lower fees, according to our database of offers.
So this fee turns what would be construed as a positive — the Cash Card’s 0% intro offer — into a reason to look elsewhere if you’re looking to lower the cost of existing debt.
Likelihood Of An Above-Average APR
Let’s start with a bit of context. The average APR assessed by credit cards that require excellent credit for approval is 17.23%, while the average for fair credit is 25.54%, according to our latest market snapshot. And though the TD Bank Cash Card requires excellent credit for approval, the lowest rate you can get is 19.74% (V). The highest rate you can get, on the other hand, is 29.74% (V). That means you’re likely to pay an above-average rate for your credit standing, and you might even wind up paying a rate that would be bad even for someone with limited/fair credit if your credit is just barely excellent.
Other Things To Consider About the TD Bank Cash Credit Card
No Foreign-Transaction Fee
This card will be a benefit, not a hindrance, when it comes to spending money abroad. Whether you’re physically traveling outside the country or simply buying goods from internationally based merchants, you won’t get hit with a foreign-transaction fee. Most credit cards charge such fees, and the average is 1.53%. Not having to worry about such a fee could therefore save you bigtime. And by freeing you up to make the majority of your international purchases with plastic, you’ll also be able to save even more on currency conversion.
Automatically converting currency with a no-foreign-fee credit card costs up to 9% less than popular options for converting hard currency.
Points Don’t Expire With Time
With some credit cards, you have to use your rewards relatively quickly or risk losing them due to nothing more than the simple passage of time. That’s not a concern with the TD Bank Cash Card. As long as your account is open and in good standing, your rewards are safe.
Nevertheless, we always recommend redeeming credit card rewards on a regular basis to limit the amount that could be lost if something goes wrong.
No Penalty APR
Your rates won’t get jacked up just because you miss a payment or two, or for any reason, for that matter. And that’s good because the TD Bank Cash Card’s rates are already high enough. But you should still try to avoid ever missing your due date or generally misbehaving because, while TD Bank won’t make you pay for the types of mistakes that would ordinarily lead to a penalty APR, the credit score damage that could result would cost you plenty.
$40 Late Fee
On-time monthly payments are essential not only to maintaining your excellent credit score, but also to saving money. TD Bank will assess a fee equal to $25 or your missed minimum payment, whichever is less, the first time you fail to pay on time. If you slip up again within the next six months, you’ll be hit with a fee equal to the lesser of $40 or the minimum payment due.
Excellent Credit Required
More than 60% of consumers do not have excellent credit, according to WalletHub data, which means this requirement classes out a significant portion of the credit card-seeking population. It also casts the TD Bank Cash Visa in an unfavorable light.
In short, its terms are a fine fit for the good-credit category, but they can’t hang with the market’s elite, many of which offer initial bonuses in excess of $400, 2%+ back across all purchases and/or 0% introductory terms as long as 21 months. And elite is what you should be in the market for if you have excellent credit.
If you’re not sure where your credit currently stands, you can check your latest credit score for free on WalletHub. WalletHub is the only site that offers free credit scores updated on a daily basis. That will help you track your score over time and determine when the time is right to apply for a better card. And WalletHub’s personalized recommendations will tell you which card offers the most savings for your situation.
TD Bank Cash Credit Card vs. The Competition
To make things easier for you, we took the liberty of comparing TD Bank’s centerpiece offers to some of their best competitors. You can check out the results below.
| Info | TD Bank Cash Credit Card | TD First Class Visa Signature® Credit Card | Citi® Double Cash Card – 18 month BT offer |
|---|---|---|---|
| Annual Fee | $0 | $0 intro 1st yr, $89 after | $0 |
| Bonus Offer | $150 | 25,000 miles | N/A |
| Rewards Rate | 1 - 3 points / $1 | 1 - 3 miles / $1 | 2% Cash Back |
| Purchase Intro APR | N/A | N/A | N/A |
| Transfer Intro APR | 0% for 12 months Transfer Fee: 3% (min $5) | 0% for 12 months Transfer Fee: 3% (min $5) | 0% for 18 months Transfer Fee: 3% intro fee ($5 min) for each transfer in first 4 months, after that 5% ($5 min) for each transfer |
| Regular APR | 19.74% - 29.74% (V) | 17.99% (V) | 18.99% - 28.99% (V) |
| Editors' Rating | 3.5 | N/A | 5 |
| Details, Rates & Fees | Learn More | Learn More | Learn More Rates & Fees |
TD Bank Cash Credit Card Review Methodology
This TD Bank Cash Credit Card review is based on WalletHub’s proprietary 100-point credit card rating system. By using a consistent methodology to evaluate the TD Bank Cash Credit Card and all other cards, WalletHub’s credit card experts make it easy for people to compare their options and find the best credit cards for their needs.
The WalletHub rating system uses 16 key metrics grouped into seven categories: Fees, Rewards, Two-year Cost, Interest Rates, Approval Requirements, Special Features, and Reviews. Each metric has a maximum number of points allocated to it, based on the metric’s importance as determined by our editors. The points are added up to create an overall rating for the TD Bank Cash Credit Card out of a maximum of 100 points, which is then converted to a 5-point scale.
Ratings for each category reflect how close TD Bank Cash Credit Card is to WalletHub’s definition of a 5-star credit card, which is based on market conditions and what we believe are reasonable terms. We compare TD Bank Cash Credit Card to that standard to give a numerical approximation of how reasonable and competitive its terms are compared to other cards.
To learn more about how WalletHub rates credit card offers, check out our full credit card review methodology.
